Post Today, NewsClear acquisition still under consideration: Nation Group
Nation Group told the Stock Exchange of Thailand (SET) on Wednesday that the company’s move to acquire Post Today and NewsClear online media from Bangkok Post Plc is still pending a decision by the Group's board of directors.
In a statement released on Wednesday, Nation Group Thailand Plc said the deal, which was announced on September 5 covering the acquisition of licences and services of Post Today and NewsClear online media at a price of 58.85 million baht, is not finalised yet.
The company said it released this statement to clear up any misunderstanding that the announcement might have caused among investors and the general public.
“The acquisition of Post Today and NewsClear is still under the consideration of Nation Group’s broad of directors. The assets of both online media are also subject to inspection before being transferred to Nation Group, upon which the payment will be made. This is expected to take place by September 30,” said the statement.
The company will release an official announcement once the deal is finalised.
“We have been carrying out this acquisition deal in accordance with related legal requirements. We will notify the Stock Exchange of Thailand immediately of any updates,” said the statement.
Nation Group also said the deal is within the jurisdiction of the board of directors as the value does not exceed 100 million baht.
